
Simple and Compound Interest Quiz
Authored by Samuel Stansbery
Other
7th - 12th Grade
CCSS covered
Used 4+ times

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12 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
the amount of money borrowed or deposited
the percent interest for his year
the amount taxed
the amount the bank owes you for being a customer at their bank
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The simple interest formula is I=Prt. What does the t represent?
Principle
Interest
Time
Percent Rate
Tags
CCSS.8.EE.C.7B
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When calculating
interest, how do you write the percent?
a fraction
a decimal
a round number
not enough information
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Write the percent as a decimal.
4.3%
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Calculate the interest. I = PRT,
Principal = $1000,
Rate = 6%,
Time = 2 years
$100
$120
$180
1200
Tags
CCSS.7.RP.A.3
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